1. Field of the Invention
The present invention is related to the field of corporate performance evaluation and improvement and, more particularly, to an automated on-line system and method for providing a comparative, statistics-based analysis of industry peer performance through benchmarking.
2. Description of the Related Art
Benchmarking is an essential element of corporate performance evaluation worldwide. A “benchmark” is a standard of performance or a point of reference that serves as the basis of understanding relative standing or performance. Benchmarking involves comparing the vital statistics of one enterprise against those of a peer group of similar companies. Whether related to personnel, capital investment, customer care, marketing or administrative support operations, when decisions are to be made managers require as much information as can reasonably be obtained. Benchmarking is critical to identifying those aspects of corporate performance requiring improvement and formulating a knowledge-based plan of action to achieve objectives.
Benchmarking, in some form, has always existed. More recently, however, there has been a major push in many industries to identify the metrics that are central to success, and to find ways to accomplish more effective benchmarking. Some companies have banded together to exchange data among themselves on a formal or informal basis. However, often the data is partial in scope and limited in geographical reach. Similarly, some consulting companies have developed benchmarking practice units, but these are only able to provide “snapshot” studies to clients and are often accomplished pursuant to engagements that are simply cost prohibitive for many industry players.
Customer Relationship Management (CRM) operations, among them call centers, lend themselves particularly well to benchmarking because so many measurable elements of these centers are collected with total objectivity through the use of technology. A need exists among such operations for cost-effective benchmarking services that provide valuable comparison data with both peer groups that have been specifically selected as well as broader peer groups worldwide.